The payment operation, which has been awaiting regulatory approval for three years, will first focus on small merchants and will be implemented gradually in the South American country.
For Aviva, this round stands out as one of the largest for this investment stage in LatAm after the difficulties of the second half of 2022.
Mexican fintech Clara relocated its headquarters to Brazil in an effort to claim a share of its massive digital payments market.
·
Mexican fintechs Klar and Konfio tap $100 million credit lines from U.S. firms to boost lending in the country.
Several of the largest fintechs in Mexico have plans to step up loans to small and medium-sized businesses in the country.
The resources from the new investment, according to the fintech's CEO, will be used to reinforce the team of engineers and invest in the development of new products.
Mexican fintech Clara secured a $90 million debt facility as it plans to grow its footprint in South America.
Mexico's Banorte will launch neobank Bineo by late this year or in early 2024. It aims to add 3 million clients and operate independently.
Mexican fintech Kapital raised $40 million in a series-B funding this month and $125 million in debt financing to expand to new markets.
Kueski plans to launch new products this year as it seeks to serve the underbanked. BNPL application rising on the back of e-commerce.